Foreign literature review of blockchain Technology

1. The English version of blockchain is to introce the blockchain information in English
blockchain is a kind of distributed shared accounting technology. What it needs to do is to enable all parties involved to establish a trust relationship at the technical level. Blockchain can be roughly divided into two levels, one is to do the underlying technology of blockchain; The second is to do the upper application of blockchain, that is, the transformation, optimization or innovative application based on blockchain. What is the core meaning of the blockchain? Our understanding is that the core meaning of the blockchain is to establish data credit between the participants, create unilateral ecology under clear provisions through unilateral confrontation, and jointly guarantee complete opportunities. This is a system, and this kind of construction can end the problems before the blockchain, When data is shared, it is impossible to achieve new sharing. Even if you do orientation, it only gives you an interface. After the blockchain is established, the participants can realize credit sharing. Domestic platforms have applied blockchain technology to crowdfunding. For example, the European crowdfunding platform issues different tokens for crowdfunding projects on the platform. As an asset certificate, tokens can be freely traded in the market.

2. A federal judge yesterday ruled that the IRS has access to user information on coinbase, the bitcoin and Ethernet exchange. The judgment came into force on November 30, Jacqueline; Scott & Chen 8226; Judge Jacqueline Scott Corley decided to approve the IRS petition, allowing it to investigate any possible tax avoidance in the United States
coinbase said it was aware of the existence of the judgment and would make a formal statement shortly

and the US government is celebrating this victory. Director of the IRS, John J; John Koskinen said:

like other properties, virtual currency transactions are taxable‘ The purpose of John Doe's summons is to ensure that citizens in emerging economies can abide by tax laws and fulfill their responsibilities

the coinbase user information that IRS applied to view was from December 31, 2013 to December 31, 2015. Coinbase said it would try its best to protect users' privacy when it first received the subpoena

as we all know, the attitudes and regulatory policies of countries around the world towards digital currencies such as bitcoin are not the same, and the tax policies of different countries are also different
on October 22, 2015, the European Court of Justice ruled that transactions in bitcoin and other virtual currencies would be exempt from value added tax (VAT). This decision is a major victory for the bitcoin trading community

generally, Japanese people need to pay 8% consumption tax to buy bitcoin on the digital currency exchange. In October this year, it was reported that the Japanese government planned to cancel the consumption tax generated by the purchase of virtual currencies such as bitcoin next spring

since 2015, the IRS has regarded bitcoin and other digital currencies as taxable assets. Recently, the IRS inspector general has been responsible for the Department's gaps in digital currency taxation. The American Institute of Certified Public Accountants (AICPA) has raised similar questions.

3. Theoretically, the block reward that can be generated every day is zd12.5 (number of rewards per block) * 6 * 24 (6 blocks per hour, 24 hours per day) = 1800btc. Bitcoin network gives out one block every 10 minutes on average, and the reward for each block is currently 12.5. At the earliest time, 50 BTCs were awarded to each block within the block. After 210000 blocks were g out, the number of BTCs was halved, about once every four years. It is expected that the next halving will be in May this year, when the reward for each block will become 6.25. There is a special exchange for buying bitcoin. It is suggested to go to okex exchange in China. The security is great.

4. According to McKinsey's analysis, the impact of blockchain technology is most likely to occur in the main application scenarios of payment and trading banking, capital market and investment banking business
digital currency: to improve the convenience of currency issuance and use, for example, the central bank plans to issue its own digital currency; Cross border payment and settlement: realize point-to-point transaction and rece intermediate costs; Bill and supply chain financial business: rece human intervention, rece costs and operational risks; Securities issuance and Trading: realize quasi real-time asset transfer and accelerate the speed of transaction clearing (European crowdfunding is a typical model); Customer credit investigation and anti fraud: rece the cost of legal compliance and prevent financial crimes.

5.

1、 Blockchain technology concept

blockchain technology is a new technology with the graal rise of encrypted digital currency. It adopts a distributed computing mode, uses blockchain to store data, uses cryptographic principle to ensure the security of transmission and access, and the data storage is jointly maintained and supervised by Internet users, with decentralized, transparent and open functions Data can not be modified and other significant features [2]. Its use of distributed storage and computing power makes the rights and obligations of the entire network nodes the same. The nature of data in the system is the common maintenance of the whole network nodes, so that the blockchain no longer relies on the central processing node to achieve distributed storage, recording and updating of data. Therefore, its application is not limited to currency as an asset type, At present, it is widely used in various instries{ RRRRR}